Morning Buzz: Money & Your spending habits
Almost everyday we hear about the falling value of the dollar. The Associated Press reports the almighty dollar is no more and it’s something that can be seen in New York City store windows where signs saying “we accept euros” are popping up. Brazilian supermodel Gisele Bundchen reportedly no longer wants to be paid in dollars.
The dollar has been declining for six years against other major currencies. And, the AP says that steady drop is fanning inflation here in the US. That means we (the American consumers) are seeing big price increases in energy, food and imported goods. So, how big is the difference? Since 2002, he dollar has lost about ¼ of its purchasing power against the currencies of our major trading partners.
I know the current state of the economy has led to some changes in my own life. Usually I enjoy taking the scenic route, but since gas prices have gone up, I try to take the direct route and only drive when I have to. If I go to the movies, it’s a matinee. I am also really searching for sales and coupons at the grocery store. Those are just a few ways I’m trying to save money. So, how has the economy changed how you spend your money?
Posted by
on 07/08 at 02:41 AM
As a typically thrift person the “slowed economy” has not change me much, (yet). Since I am mostly paid on commission I do have to be mindful that my earning potential could be adversely affected. So far that has not happened. Election years are usually slowed economically but this year there are a lot of thing going on to goof it up. Fuel cost is causing everything that moves to go up and EVERYTHING moves. The dollar, as you said, is shrinking so that causes inflation on the imports that we unfortunately depend on. This global economy thing isn’t what it was supposed to be in my opinion. It was an ill conceived plan.
Not to worry though. If Obummer is elected he will change everything and we will prosper again.
Right!